Good morning.
We start the day with another set of eye-watering inflation figures highlighting the escalating cost-of-living crisis.
The consumer price index rose to 10.1pc in July – up from 9.4pc the previous month and the highest in four decades, according to the ONS.
Core inflation, which strips out volatile food and energy costs, hit 6.2pc. The retail price, which is used for pricing some public services including train fares, rose to 12.3pc.
The numbers highlight the strain on British families, with inflation forecast to surge above 13pc later in the year after another jump in energy bills.
The Bank of England has also warned that the UK will be plunged into a deep recession, with households facing the biggest fall in living standards on record.
5 things to start your day
1) Hundreds of thousands of UK households ditch Amazon Prime Cost of living crisis hits streaming companies hard, according to Ofcom report
2) Chaos in corporate Britain as wages crash despite record job vacancies Companies consider one-off bonuses in fight for talent as inflation eclipses pay rises
3) World’s biggest airline orders 30 ‘son of Concorde’ supersonic jets Boom planes are predicted to fly from London to New York in three and a half hours by 2030
4) Aldi to overtake Morrisons as UK’s fourth largest supermarket Cost of living crisis forces shoppers to switch grocery shops
5) Russian gas exports slump by a third in blow to Putin Gazprom could be forced to close gas fields as it struggles to divert supplies to China
What happened overnight
Tokyo stocks opened higher this morning, with the benchmark Nikkei 225 index up 0.4pc in early trade and the broader Topix index climbing 0.5pc.
Hong Kong shares started with healthy gains following a positive lead from Wall Street. The Hang Seng Index added 0.8pc.
While the Shanghai Composite Index inched up 0.1pc and the Shenzhen Composite Index on China’s second exchange also rose 0.1pc.
Coming up today
- Corporate: Balfour Beatty, Essentra, Persimmon (interims)
- Economics: Inflation (UK), central bank decision (New Zealand), retail sales, Fed minutes (US)
Germany will run out of gas in three months if Putin turns off taps & Latest News Update
Germany will run out of gas in three months if Putin turns off taps & More Live News
All this news that I have made and shared for you people, you will like it very much and in it we keep bringing topics for you people like every time so that you keep getting news information like trending topics and you It is our goal to be able to get
all kinds of news without going through us so that we can reach you the latest and best news for free so that you can move ahead further by getting the information of that news together with you. Later on, we will continue
to give information about more today world news update types of latest news through posts on our website so that you always keep moving forward in that news and whatever kind of information will be there, it will definitely be conveyed to you people.
Germany will run out of gas in three months if Putin turns off taps & More News Today
All this news that I have brought up to you or will be the most different and best news that you people are not going to get anywhere, along with the information Trending News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News of this made available to all of you so that you are always connected with the news, stay ahead in the matter and keep getting today news all types of news for free till today so that you can get the news by getting it. Always take two steps forward
Credit Goes To News Website – This Original Content Owner News Website . This Is Not My Content So If You Want To Read Original Content You Can Follow Below Links